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Monday September 24 7:11 AM ET 
U.S. Reschedules $379 Million Pakistan Debt
ISLAMABAD (Reuters) - The United States rescheduled
$379 million in debt, including additional interest
that raised the figure from an initial $375 million,
owed by Pakistan under an agreement signed on Monday.
A Pakistan government statement said the loan under
the Official Development Assistance program would be
payable over 20 years, including a 10-year grace
period starting from November 1, 2011.
The agreement follows Sunday's lifting of U.S.
economic sanctions imposed on Pakistan and India in
1998 after the two arch-rivals carried out tit-for-tat
nuclear tests.
The move was seen as a reward for the two countries
for their assurance of support to what Washington
calls a new war against terrorism after the
devastating September 11 attacks in the United States.
 
 

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